You can’t run around saying,
“The sky is falling” every time life throws a curve ball your way. Keeping up
with the speed of life is hard. Whether you’ve met your perfect match, are expecting
your own chickadee or getting ready to fly the coop for the first time, it’s
important to talk to your ERIE Agent. Here are three scenarios to chirp about.
1. My family
is growing and growing up.
What coverage should I consider?
insurance* is something most families need.
Most people buy life insurance to protect their loved ones from the financial
burden after an unexpected death. Get a rough idea of how much protection you
should have by using ERIE’s Life Insurance Calculator.
a look at your homeowners policy. Make sure you have
enough coverage to protect your home and everything in it. This includes if you’re remodeling your home,
too. It’s important to have the additional coverage for that new addition.
Having an actual cash value insurance policy deducts
for wear and tear and depreciation. With Guaranteed Replacement Cost coverage,
you’re covered—even if you need to rebuild your entire home.** For example, if
something happens to your 15-year-old TV, you’d receive a depreciated amount
toward a new TV with an actual cash value settlement. With guaranteed
replacement, you’d be able to purchase a new TV. There’s a small difference in
premiums between the two, but it could end up saving you a lot of money in the
long run if something happens.
Also, ask your Agent about high-value items, such as
a diamond ring, a rare piece of art or expensive electronic equipment. You
may need additional coverage for those things.
Teen drivers are in your future. If a teenager in
your home is learning to drive (remember, every parent goes through this!), you
will definitely need to add your teen as an insured under your auto insurance
policy once the teen is licensed.
2. I’m fresh out of school and new to the
What coverage do I need?
you’re renting, you’ll need a renters insurance policy to cover your
belongings. If you’re renting for the first time, you’re no
longer covered by your parents’ homeowners policy and your new landlord’s
insurance policy typically doesn’t cover your belongings after a theft or fire.
very own auto insurance policy. Sure, it’s tempting to
buy a bare bones policy to save money on your first auto policy, especially when you’d rather spend money
on a weekend away with friends, but that’s risky. Having only state minimum
requirements may not give you enough protection. If your insurance policy
doesn’t cover all the damages, your savings and future wages could be at stake.
insurance if the unexpected happens. It’s not something we
like to think about, but you want enough life insurance to cover final expenses
(or student loans or debts) if something were to happen to you. The good news?
Life insurance is cheaper than most people think—and that’s especially true when
you’re young and healthy.
3. I have a home-based business. What coverage do I need?
basics. From inventory and defamation issues to customers
visiting your home, home-based businesses definitely need coverage.
Depending on the nature of your home-based business, you may need a simple
endorsement to your current homeowners policy or a new policy. Talking to an Agent
can help you sort it out.
for real life. You might
feel like a taxi running your kids all around town, but what if you actually
use your personal car as a taxi, for ridesharing services like Lyft or Uber? ERIE’s Ridesharing coverage allows drivers to put a “business use” designation on
their personal car insurance policy and it covers every part of the trip—before,
during and after the hired ride. ERIE was the first insurance company to offer
No matter what stage of life you’re in, connect with
your Erie Insurance Agent. He or she can help you find the right coverage at
the right price to fit where you are in life.
*Erie Family Life
insurance policies are not available in New York.
Replacement Cost requires home improvements over $5,000 to be reported
within 90 days – not available with all policies and in all states. Coverage of
costs to comply with laws or ordinances is subject to limits. Depreciation will
be deducted until repair or replacement is made.
are subject to terms, conditions and exclusions not described in this
article. For additional
coverage questions, consult your individual policy or talk to your ERIE Agent.
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